A quarter of Brits still worry about money every day as cost-of-living worries continue to bite.
A poll, of 2,000 adults, found finances are still a main concern for 41% of the nation with energy bills (36%), groceries (32%) and car costs (13%) the biggest drain on Brits’ daily spend.
Over a third (36%) haven’t felt able to ask for advice from anyone around them, leaving 24% feeling stressed. While just under a quarter (24%) feel having open conversations about their finances would have a positive impact on their mental health.
To help people with their cash-flow, financial expert Peter Komolafe has offered advice to boost financial wellbeing.This includes creating a detailed budget, slowly building up savings, and reaching out to your energy supplier for help if you are struggling.
Working in partnership with Smart Energy GB, to share his top money saving tips ahead of the winter, Peter said: “Money worries can be stressful, but it’s important to know there are simple steps you can take to both alleviate the pressure and help you feel better.
“If you’re struggling with money, it’s really important to talk to someone, whether that’s friends or family, or even your energy supplier.
“They could offer you a smart meter to give you a better understanding of how much you’re spending on energy and find ways to reduce it.”
The research also found 22% of adults wish they felt more confident when talking about money. And 23% would rather their loved ones shared their financial concerns, so they wouldn’t feel so stressed.
Of those who would ask someone for help with money worries, 72% would ask family, while 45% would go to friends.
Brits are overwhelmingly most worried about their energy bills during winter (58%), with only nine% most concerned in the summer.
And for those who have a smart meter at home, 60% agree that it has helped them get a better understanding of how much they spend on energy.
Phillippa Brown from Smart Energy GB added: “Talking about financial worries can be daunting, but it can be a real relief for people during stressful times.
“If you’re having problems paying an energy bill, an important first step is to talk to your energy supplier, as they can tell you what support is available.”
